The Golden State Warriors is a championship basketball team & NBA dynasty. Winning runs in their latest team program’s bloodline. Off the court however, this year has not been so friendly. At least 3 of the team’s players have lost money to cryptocurrency investments, thanks to the recent FTX crypt-exchange fiasco. Now the total amount Andre Igoudala may have lost, has been revealed according to an update via CryptoCoinOpps.
In January of this year Andre Igoudala and Klay Thompson signed up to receive a portion of that year’s salary in Bitcoin. This was done in conjunction with CashApp, a digital bank. The Championship team athletes were to receive their BTC tokens through the app in celebration of its new trading options; to buy and sell cryptos.
At the time the deal was announced, the price of Bitcoin was swinging between $34,000 and $38,000 USD.
Today, due to the FTX crash caused by Sam Bankman-Fried, the value of BTC is not even half of that. Coinbase, who has a ‘black hole’ issue that could cause another market crash, lists the tokens value at $16,609 USD.
The amount Klay was to receive was not disclosed. However, for the 2021-2022 season he was contracted to earn $40,600,080 USD. If the “Splash Brother” took that all in Bitcoin, he’s lost over $20-million-dollars of that value to date.
Andre Igoudala’s Bitcoin salary was made public. Various sites report he received $2,647,000 in Bitcoin. This means the former NBA Playoff’s MVP has seen his investment tank by over $1.3-Million dollars.
These figures have not been confirmed by either athlete, but there isn’t a need at this point. Both are multi-millionaires that can hold on to their Bitcoins as long as needed to see an ROI.
While some on-line spectators are flabbergasted by the loss of value on investments, professional analysts aren’t even sweating. People such as ARK CEO Cathie Woods, a financial investment giant, says Bitcoin will rise to a price of $1,000,00 in the future.
If Bitcoin Reaches $100k
At a fraction of Woods’ estimate, if the token reaches $100k and the two Golden State Warriors hold onto their investments, things become a different ballgame. This would be a multiple of around 2.86x of their original investments. And it would be a new All-Time High for Bitcoin.
If BTC hits this new ATH, Thompson’s $20-million-dollar investment would turn into $57-Million-dollars. Igoudala’s $2.6-million would jump to $7,570,420.
If Bitcoin Reaches $1,000,000
For the Ultimate HODL to 2030, as Cathie Woods estimates, a single Bitcoin could fetch $1-Million-Dollars. That’s the ARK CEO’s prediction.
In these scenarios, Igoudala and Thompson would be retiring 2-3 generations of their family from this investment. At the new ATH of $1-Million, people would no longer be buying Bitcoins either. People would then be buying 1/100,000,000 of a Bitcoin, called a Satoshi.
BTC at this value would generate an insane ROI of 28.6x the original investment made by Igoudala and Thompson. Igoudala’s initial $2.6-million investment would then have the whopping worth of $75,704,200.
As for the other Warriors’ players, Thompson’s investment would become more like a Houston Rocket. That $20-Million investment would be worth an astounding $572,000,000. This would possibly make Klay a billionaire, if he retains money from his basketball career and endorsement deals.
Sky’s the limit potentially but also , a heaping trash can of burned money if the market hits zero.
Only time will tell who shall laugh and cry in the long run. As for now however, the pocket-watchers and nay-sayers of cryptocurrency are up a few points.
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